ISLAMABAD: Prime Minister Shehbaz Sharif and Chinese Premier Li Qiang reaffirmed their commitment on Thursday to advancing the second phase of the China-Pakistan Economic Corridor, a multibillion-dollar infrastructure initiative central to their strategic partnership, during a meeting Sharif described as “warm and most productive.”
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Trade deficit jumps 30 percent in August as imports surge, exports falter
ISLAMABAD: Pakistan’s trade deficit widened sharply in August, surging 30.4% to $2.87 billion from a year earlier, driven by a spike in imports and a steep drop in exports, according to data released on Tuesday by the Pakistan Bureau of Statistics.
Govt retires Rs1.6 trillion of central bank debt in under two months
KARACHI: The government has retired more than Rs1.6 trillion of debt owed to the central bank in less than two months, a record achievement that underscores efforts to bolster fiscal discipline and reduce borrowing risks, a senior official said on Sunday.
Pakistan slashes new development funding to 2pc under IMF pressure
ISLAMABAD: The government has drastically curtailed funding for new development projects, limiting allocations to just 2 percent of the Public Sector Development Programme (PSDP) for the current fiscal year, a move driven by stringent conditions tied to the International Monetary Fund’s Extended Fund Facility (EFF), officials disclosed during a Senate committee briefing on Friday.
FBR faces revenue shortfall amid floods, targets Rs1.44 trillion in September
The Federal Board of Revenue (FBR) is grappling with a revenue shortfall in August 2025, collecting Rs886 billion against a target of Rs950 billion, a deficit of Rs64 billion, as severe floods disrupt economic activity across the country.
Pakistan faces flood risks as inflation holds at 4-5 percent, fiscal gains strengthen
ISLAMABAD: Pakistan’s economy, with August inflation projected at 4-5% and support from a narrowing fiscal deficit and strong revenue growth, faces rising risks from flood damage that could disrupt food supplies, strain fiscal resources and threaten agricultural growth targets, the Finance Division said in its monthly outlook on Thursday.
Pakistan postpones revenue-sharing talks as Sindh faces flood threat
By Staff Reporter ISLAMABAD: Pakistan delayed the first meeting of the 11th National Finance Commission (NFC), the country’s revenue distribution body, on Thursday after Sindh
Pakistan targets 2025 panda bond debut to access Chinese capital
ISLAMABAD: Pakistan is pressing ahead with plans to issue its first panda bond in 2025, a move to tap China’s deep investor pool and diversify its funding sources, Finance Minister Muhammad Aurangzeb said, as the nation seeks to rebuild reserves and return to global capital markets.
ECC approves gas surcharge relief, funds for flood-hit Gilgit-Baltistan
ISLAMABAD: The Economic Coordination Committee of the cabinet approved a bailout for the state broadcaster, a plan to recover overdue petroleum levies from a refinery and a mechanism to use gas surcharges to cut electricity tariffs for all consumers
Loans, grants lift Pakistan July inflows to $695 million
ISLAMABAD: Pakistan kicked off the new fiscal year with a robust 59 percent increase in foreign inflows, totalling $695 million in July, driven by a sharp rise in loans and grants following the finalisation of a critical International Monetary Fund (IMF) agreement.